1. HOW TO START UP A COMPANY
IN
SERBIA
Belgrade, 2007.

2. CONTENTS:
• Introduction
• I. Company-general overview
• II. Legal types of companies
-Company
-Limited company
-Limited liability company
-Joint-stock company
-Branch office
-Private Entrepreneur
• III. Representative branch office operated and established by a foreign subject
• IV. Commencement of business activities
• V. Short guide to the company registration
Where to search for assistance?
• Useful addresses
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3. How to start up a company in Serbia?
This publication is dedicated to all those who would want to make their own idea a
reality-establish their own company or representative branch office.
It guides the user in the right direction from initially selecting the right activity to
finding expert consulting services with the objective of incorporation.
The following pages will provide an insight of the legal framework referring to the
company founding, different legal types of companies, company registration procedure,
launching business activities or shop opening, including all the necessary steps prior to
the act of filing with the Business Register Agency…and much more.
It should be noted that all the existent legal types of businesses
available to the domestic investor
are now rendered possible for the foreign investors, too.
We intended for this publication to be an incentive and a useful tool offering the most
up-to-date information concerning the status of the legal entity as an indispensable
prerequisite for the successful business in Serbia and successful cooperation with
foreign partners.
SERBIAN CHAMBER OF COMMERCE
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4. 1. GENERAL PRINICPLES GOVERNING ALL TYPES OF COMPANIES
A company is a legal subject whose founding, internal organization and registration are governed by
the Law on Companies (Official Gazette of RS no. 125/04), Law on Registration of Business Entities
(Official Gazette of RS no. 55/04; 61/05). These laws and the solutions they offer, are harmonized with
the standards valid within the EU and other developed market economies.
COMPANY AND A PRIVATE ENTREPRENEUR
• Company is a legal subject established by the Articles of Association either by a physical
person or a legal entity in order to do business with the objective of gaining profit
• A private entrepreneur is a physical person who is registered and operates for the gain of profit
in an activity and deals in all lawful operations.
LEGAL TYPES OF COMPANIES
• Corporation
• Limited company
• Limited liability company
• Joint stock company (public or private)
BRANCH OFFICE
• Company, domestic or foreign, may have one or more branch offices
• Branch office is an organizational part of a company without the powers of the legal subject.
Branch office has a business seat and its representatives; with third persons, business is
conducted in the name and on the account of the company it represents
• Branch office is registered in accordance with the Law on Registration of Companies.
COMPANY FOUNDED BY THE FOREIGN ENTITY
• Foreign legal subjects and physical persons may incorporate in compliance with the said law
and in compliance with the Law on Foreign Investments.
• Foreign legal entity files with the Business Register the number of the parent company
appearing in the original Register along with the name of the original Register
• Foreign physical person enters into the Register its own passport number and the passport
issuing state.
2. BUSINESS OPERATIONS
• Company is founded either for a specific duration period or with perpetual duration
• Company may engage in all lawful activities, except when special permits and licenses are
required (e.g. military equipment; armaments; trade in hazardous materials…)
• Company may initiate its activities following the decision by the governing body stating that all
requirements have been met concerning technical readiness, workplace safety and
environmental protection issues.
ARTICLES OF ASSOCIATION
• Founding act of the company by more than one founder are Articles of Association.
• Articles of Association of a business established by a sole founder is a Decision of founding.
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5. • Contents of the Articles of Association are provided for each legal type of business separately.
• Apart from Articles of Association, a company may have a contract which defines business
activities and management in particular with separate provisions dealing with business
operations and managing. The Contract is not binding towards third parties.
• Apart from the Articles of Association, company may also have its Bylaws.
REGISTRATION
• Company acquires the capacity of a legal entity after the data of the said company has been
entered in the Business Register in a manner prescribed by the Law governing the registration
of business entities.
COMPANY ASSETS
• Company assets may consist of: ownership rights on moveable property and real estate
property, liquid assets, security bonds and other property rights.
• Contributions in kind are considered assets in things and rights, work and services as well as
contributions and stock owned in other corporations.
FOUNDERS’ LIABILITIES
• Company founders and other persons are jointly and severally liable for the obligations
deriving from the company incorporation.
SEAT AND BUSINESS NAME
• Seat is the place from where the business is conducted and is defined in the Founding Act.
• Business name is the name under which the business is operated and must contain designation:
- Company – general partnership (o.d.)
- Limited Company – (k.d.)
- Limited Liability Company - d.o.o. (LL.C.)
- Stock Company – (a.d.)
- Private Entrepreneur – (pr.)
REPRESENTATIVES AND POWER OF ATTORNEY
• Company undertakes rights and obligations in legal operations through its representative
• Company may engage one or more representatives with granted powers deriving from the
Articles of Association.
• Power of Attorney are granted powers with the scope and contents defined by the law and
strictly limited to the legal operations of the company
• Limitations concerning the Power of Attorney refer to financial transactions of the company
COMPANY INTEGRATIONS
• Integrated companies are two or more entities integrated either by:
-Contributions in capital base - companies joint by capital assets
-Contract - companies integrated by contract
-Contributions in capital and by contract - mixed integration base
• Integrated companies are organized as concerns, holdings, groups or any other pattern of
organization in accordance with the law.
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6. COMPANY RESTRUCTIRING
• Company restructuring comprises of:
-Changes in status with mergers, spin offs and divisions
-Status changes via liquidation
-the change of the legal type i.e. transformation from one legal type into a different legal type
3. LEGAL FORMS OF COMPANIES
CORPORATION
• Corporation is a company founded by two or more physical persons and/or legal subjects in the
capacity of partners within the corporation with the objective of performing certain activities
under mutual business name
• Corporation is liable for its obligations with the entirety of its assets, while partners severally
for the company liabilities unless otherwise stipulated by the contract with the creditor.
CONTENTS OF THE ARTICLES OF ASSOCIATION
• Full name and domicile of all physical persons partners and the business name with the
business seat of the legal entity of the company:
• Business name and seat of the company
• Activity code
• Designated type and value of the partners’ stakes
• Other elements significant for the business operations
CORPORATION CONTRACT
• Apart from the Articles of Association, corporation may have a corporate contract dealing
specifically with business operations and management of the corporation
• Corporate contract should not be submitted with the application for registration
INVESTMENT STAKES
• Partner may invest in the corporate either money, chattels, rights, work or services
• Partners, members of the corporation invest equal stakes
ADMINISTERING THE INVESTMENT STAKES
• Partner within the corporation is not obliged to increase the investment stake designated by the
act, nor is he/she obliged to increase the stake of investment in order to cover the loss of the
corporation
• Partner cannot decrease his/hers investment stake without the consent of all the other partners
• Transfer of investment stakes among the partners is free
DECISION MAKING
• Decisions regarding issues of regular corporate activities are made by the majority vote of the
total number of partners
• Decisions on the issues excluding ordinary activities such as admission of new partners are
made unanimously.
DISTRIBUTION OF LOSS AND PROFITS
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7. • Profit and loss of the company is distributed in equal parts between the partners.
MANAGEMENT AND SCOPE OF ACTIVITIES
• Partner of the corporation is bound to conduct the corporate activities
• Articles of Association of the corporation regulates whether the business operations are binding
upon one or more partners
• Administering comprises of authorization for legal activities and other activities that are
conducted on regular basis during the course of business operations
• For the operations which are not explicitly granted by the power of attorney it is
necessary to obtain the consent of all partners
4. REGISTRATION PROCEDURE
Procedure of the registration is initiated by the submittal of the Registration application form to the
Business Register Agency.
Along with the registration application form provided, the following enclosures are submitted too:
1. All the documentation in compliance with this Law.
2. Receipt of payment for the registration fee credited to the account of the Business Register
Agency.
Necessary documentation and registration fee:
1. Proof of identity of the founder-photocopy of the ID card or passport
2. Articles of Association of the corporation with certified signature of the founder
3. In case the partner has transferred the right of management onto the third party, then the
certified signature of that person
Registration fee is 2.040,00 RSD.
LIMITED COMPANY
• Limited company is founded by two or more physical persons and/or legal subjects in the
capacity of partners in order to engage in certain activities under the same business name out of
whom one person is liable in full for the obligations of the company (general partner), while at
least one person is liable in limited value and up to the amount of its own contracted stake of
investment (limited partner);
• Limited company is bound for its outstanding obligations with the entirety of its assets.
• General partners have the status of a partner of the company
IMPLEMENTATION OF PROVISIONS REGULATING CORPORATIONS
• Limited company is governed by the provisions on corporations regulating the following:
Contents of the Articles of Association, investment stakes and disposition of investment stakes,
decision making etc.
REGISTRATION PROCEDURE OF LIMITED COMPANY
Apart from the registration application form, other documents are to be submitted to the Business
Register Agency:
1. Documents in accordance with this Law
2. Receipt of payment for the registration fee credited to the Business Register Agency.
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8. Required documentation and registration fee:
1. Proof of identity of the founder- photocopy of the ID card or passport of the physical person
and/or excerpt from the registry where the legal subject is registered.
2. Articles of Association of the limited company with certified signature of the founder
3. Bank receipt of the payment of the initial investment assets to the interim account or certified
affidavit that funds for the initial investment have been provided.
4. Founders’ Agreement on the value of the contributions in kind of the limited partner in case it
is not already contained in the Articles of Association;
5. Decision on the appointment of the representative in case it is not contained in the Articles of
Association
6. Certified signature of the representatives
Registration fee of 3.000,00 RSD
LIMITED LIABILITY COMPANY
• Limited liability company is the company founded by one or more legal and/or physical
persons in the capacity of company members, in order to engage in certain activities under the
same business name;
• Limited liability company may have 50 members at most.
THE CONTENTS OF THE ARTICLES OF ASSOCIATION
1. Full name and domicile of all physical persons and a business name and a business seat of the
legal subject of the company member.
2. Business name and a business seat of the company
3. Activity code
4. Designated type and value of the investment stake of each founder and description of the type
and value of the contribution in kind;
5. Manner and time schedule of contribution in kind, deadline for the pecuniary contributions
6. Overall amount of the expenditure concerning the founding; if needed amount of expenditures
prior to the beginning of business operations
7. Approved particular benefits to any one of the persons participating in the founding or prior to
the founding of the company and
8. other elements bearing importance on the business operations
COMPANY CONTRACT BINDING UPON PARTNERS
• Limited liability company, apart from Articles of Association may have a contract between the
partners specifically regulating business operations and managing;
• Company contract is not to be submitted along with the registration application form.
START UP CAPITAL AND STAKES
• Stakes in the limited liability company may be pecuniary contributions and contributions in
kind including work and services.
• Start up capital contribution of the limited liability company may not be lesser than
€500.00(fivehundred)EUR in RSD equivalent value;
• Stakes in the limited liability company do not have to be of equal value
• Stake in the L.L.C. are not securities.
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9. CAPITAL CONTRIBUTION
• Prior to the completed registration of the company contribution, funds are deposited in the
interim account of the certified bank of minimum 50% of the pecuniary contributions of
each member, the remainder to be paid in within the two years from the registration date;
• Increase in or decrease in the amount of start up capital may be effectuated based on the
decision of the Assembly of the company members with due consideration to the fact that it
may not be decreased beyond the prescribed minimal amount;
THE BOOK OF STAKES
• Company is under obligation to keep the Book of Stakes;
• Contribution in the Book of Stakes enables control over the admittance of new members,
changes among existent members and implementation of clearly defined relations between the
company and its members;
• Members of the company have the right of inspection of the Book of Stakes and the right of
duplication while all other interested parties obtain such a right after the approval by the
governing body;
• None other except for the evidenced contributor in the Book of Stakes may be considered the
member of the company in reference to the company and may not be granted membership
rights;
• The Book of Stakes has the constitutive effect and not declaratory
DISTRIBUTION OF PROFITS
• Members of the company have the right to participate in profits based on the annual balance
sheet on turnover volume unless otherwise stipulated by the Articles of Association or
partnership contract;
• Profit is distributed among the members of the company proportional to their stakes unless
otherwise defined;
COMPANY BODIES
• Company bodies are the Director or the Board of Directors and Assembly, as specified by
the Articles of Association.
• Company members make up the Assembly;
• Director’s activities and Assembly powers in sole proprietorship are executed by the founder,
unless otherwise defined by the Decision on Association.
ASSEMBLY’S SCOPE OF OPERATIONS
• Approves deals concluded in reference with the founding of the company prior to the
registration
• Elects and dismisses the Director or the members of the Board of Directors and defines their
fees and incomes;
• Approves financial report of the company and determines the amount and the date of the
distribution of the profit to its members;
• Appoints internal auditor or company auditor;
• Appoints liquidator adjuster and approves liquidation balance sheet;
• Approves the increase and decrease in capital assets;
• Grants power of attorney and business authorization for all company branches
• Decides on additional contributions by the members of the company
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10. • Dismisses and engages new members of the company
• Decides on statutory amendments of the company
• Decides on company property
• Alters Articles of Association of the company
• Establishes branch offices
• Establishes Rules of Procedure
• Resolves other issues in accordance with the Articles of Association
SCOPE OF ACTIVITIES OF THE DIRECTOR OF THE BOARD OF DIRECTORS
• Organizes and conducts the business operations of the company;
• Represents the company
• Determines the draft of the business plan
• Convenes the Assembly session of the company and determines the agenda;
• Implements the decisions by the members’ Assembly;
• Concludes contracts on loans;
• Grants and impeaches authorization by proxy
• Determines the amount of participation in profits of a member;
• And other issues deriving from the founding act.
RESPONSIBILITY
• Director of the Board of Directors is responsible for regular keep of the business books and
internal overseeing of the business in compliance with the law.
REGISTRATION PROCEDURE OF THE NEWLY FOUNDED COMPANY
The registration procedure is launched by filing the registration form with the Agency.
Along with the provided application form the following should be enclosed too:
1. All the documentation in accordance with this Law.
2. Proof of payment of the registration fee credited to the Agency.
Required documents and registration fee:
1. Proof of identity of the founder-photocopy of the ID or passport of the physical person and/or
excerpt from the Register where the legal subject is registered,
2. Articles of Association of the company with founder’s certified signature.
3. Bank receipt attesting to the pecuniary contributions credited to the interim account or certified
affidavit that monetary contributions are provided.
4. Founders’ Agreement on the value of contributions in kind, in case it is not contained within
the Articles of Association;
5. Decision on the appointment of the representative unless already appointed by the Articles of
Association.
6. Certified signature of the representative.
Registration fee is 3.600,00 RSD.
JOINT STOCK COMPANY
• Stock company is a company founded by one or more legal and/or physical persons in the
capacity of shareholders in order to perform certain activities under the same business name
whose initial capital is determined and divided in shares;
• The sum total value of all shares makes up the start up capital of the joint stock company;
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11. • Joint Stock Company is liable by the entirety of its property for its obligations and debts.
CONTENTS OF THE ARTICLES OF ASSOCIATION
• Full name and established domicile of the physical person including the business name and the
business seat of the legal subject of each of the founders of the company
• Business name and business seat of the company
• Activity designation
• Specifically mention whether the company is private or public
• Amount of the start up capital
• Number of shares and their face value, type and class
• Founders ID providing contributions in kind
• Duration of the company
• Other issues regulated by the law.
BYLAWS
• Apart from Articles of Association a joint stock company may have Bylaws containing
provisions with specifics regarding business operations and management;
• Company Bylaws are to be submitted with the registration form.
STOCK COMPANY TYPES
• A stock company may be either:
1. Private with shares being issued only to the founders (shares are not issued by public
tender) and a maximum of 100 shareholders
2. Public, if the founders announce a public invitation to issue a prospect at the time of
the founding process of the company. It may be either officially listed quote or not, but
must be in compliance with the law governing securities market.
INITIAL CAPITAL
• Minimal stake of the initial capital for the private stock company on the day of deposit is in
the amount of 10.000 (ten thousand) EUR in RSD equivalent according to the exchange rate
on the day of deposit.
• Minimal stake of the initial capital for the public stock company on the day of deposit is in
the amount of 25.000 (twenty five thousand) EUR in RSD equivalent according to the
exchange rate on the day of deposit.
MINIMAL INITIAL STAKE
• The lowest nominal share value cannot be smaller than 5 € in RSD equivalent.
• Shares cannot be issued and sold under their nominal value.
CONTRIBUTIONS
• Shareholders contributions may be pecuniary, in kind and rights expressed in monetary value;
• Contributions in kind and rights are evaluated by the authorized assessor;
• Shareholders contributions cannot be in work or in services provided to the stock company.
CAPITAL CONTRIBUTIONS
Shareholders, issuers of shares are obliged, prior to the registration of the stock company, to make
contributions to the authorized bank of minimum 50% of the monetary contribution of start up
capital, or 50% of accounting value of shares without the nominal value, while the remainder is to
be contributed within and up to two years from the date of registration.
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12. SHARES-TYPES AND CLASSES
• Stock company may issue either common or preferred shares
• Stock company must have at least one common share;
• Common shares always represent one class of shares
• Preferred shares may be divided in two or more classes with different rights;
• Shares with the same rights belong to the same stock class
VOTING RIGHTS
• Each issued common stock gives a right to one vote on all issues which are put to vote during
Shareholders Assembly
• Each issued preferred stock allowing voting right must be in compliance with the Articles
of Association
• Shares held by the stock company as their own do not grant a voting right
• Shares in a stock company do not bestow a voting right if their owner, directly or indirectly is
a different company where this company holds shares or stakes enabling it to control the
voting on behalf of that company (subsidiary company).
SHAREHOLDERS AND STOCK COMPANY
• Shareholders with shares of the same type and class with equal nominal value are equal-
equality principle.
DISTRIBUTION OF PROFITS
• Shareholder enjoys the right of annual slice of profits defined by the Assembly-dividends.
• Articles of Association may determine dividend payments during the business year (interim
dividends) with legal limitations
• Profits are distributed proportional to the nominal worth of shares
• When shares are not fully contributed, the profit is divided in proportion to the paid
contribution and according to the time of contribution during the business year.
STOCK COMPANY BODIES
• Bodies of the private company are: assembly, director or board of directors;
• Bodies of the public-non quoted company are: assembly, board of directors, supervisory
board, internal auditor, auditor, secretary
• Bodies of public-quoted company are: assembly, board of directors, supervisory board,
internal auditor, board of auditors, auditor, and secretary.
FOUNDING REGISTRATION PROCEDURE
The registration procedure is launched by filing the registration form to the Agency.
Along with the provided registration form one must enclose the following:
1. Documents in compliance with this Law.
2. Proof of payment of the registration fee credited to the Agency.
Required documentation and registration fee:
• Public stock company:
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13. 1. Proof of identity of the founder-photocopy of the ID or passport of the physical person and/or
excerpt from the Register where the legal entity is registered;
2. Articles of Association with certified signature of the founder;
3. Bank statement on registration of shares;
4. Bank statement on deposited pecuniary contributions to the interim account
5. Proof of announcement and contents of the public invitation of prospect with approved
prospect by the governing body;
6. Evaluation by the court appointed assessor concerning contribution in kind of the founders;
7. Decision on appointment of representatives unless already appointed by the virtue of the
contents of Articles of Association
8. Certified signature of the representative
Registration fee amounts to 10.200,00 RSD
• Private stock company:
1. Proof of ID of the founder-photocopy of the ID card or passport of the physical person and/or
excerpt from the Register where the legal subject is registered/
2. Articles of Association (decision or contract), with certified signature of the founder
3. Bank statement on deposited monetary contribution in case it has not been contained in the
provisions of Articles of Association;
4. Agreement of founders on the worth of contributions in kind in case it had not been entered in
Articles of Association
5. Certified signature of the representative
Registration fee amounts to 10.200,00 RSD.
BRANCH OFFICE
• Branch office is an integral part of the company with specific powers in legal transactions
and does not have the status of the legal subject in its own right.
• Company may establish many branch offices;
• Features:
-does not have its own property, the property is inseparable from the company;
-it keeps separate business books according to domestic laws;
-does not have legal instruments which would entitle it to being a legal subject in
in its own right
-it does not have its own firm but does have a business name
-it is entered in the Register according to the business seat of the company
-it is not subject to the statutory changes of the company.
• Legal subjects with the seat abroad, establish branch offices in Serbia with well defined
powers in legal transactions and are entered in the Company Register.
START UP REGISTRATION PROCEDURE
Start up procedure is initiated by the submittal of the registration application to the Agency.
Along with the registration application form, the following is to be enclosed:
1. Documentation in compliance with this Law.
2. Proof of payment of the registration fee credited to the Agency.
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14. Required documentation and registration fee:
1. Founding Act of the branch office
2. Decision on the appointment of the representative unless already appointed by the Founding
Act of the branch office;
3. Certified signature of the representative.
Foreign legal subject establishing the branch office will additionally enclose the following:
1. Excerpt from the original Register with the certified translation by the court appointed
interpreter/translator;
2. Proof of bank accounts in use for the company’s business transactions if not cited in the
Decision act of Registration
3. Certified affidavit stating that the company is assuming all the obligations deriving from the
branch office business dealings along with the certified translation by the court appointed
translator/interpreter
Registration fee is 3 000 RSD.
A PRIVATE ENTREPRENEUR
• An entrepreneur is the physical person who is registered in an activity with the purpose of
gaining profit in a professional capacity performing all legally permitted activities, including
archaic crafts and traditional handicrafts.
• An entrepreneur is liable with the entirety of its assets for the obligations incurred during the
performance of its activities.
• Legal provisions in reference with the business name, conditions, representatives, liquidation
procedures are applicable when/if necessary, unless otherwise stipulated by the specific
governing law.
START UP REGISTRATION PROCEDURE
Registration procedure is initialed by filing the registration application form to the Agency
Along with the registration application form, enclose the following:
1. Documents in compliance with this law.
2. Proof of payment of the registration fee credited to the Agency.
Required documentation and registration fee:
• With the registration form the proof of entrepreneur’s identity should be also submitted-
photocopy of the ID card or passport
Registration fee is 540.00 RSD.
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15. REPRESENTATIVE BRANCH OFFICE OPERATED AND ESTABLISHED BY A FOREIGN
SUBJECT
(Regulation on Foreign subject representative branch office registration in the Business Register
operated by the Business Register Agency (Official Gazette of RS no. 11405)
Conditions
• Representative branch office is a separate, legally dependent organizational unit of the founder
effectuating preliminary and preparatory operations in reference to the conclusion of the
contract.
• Representative branch office does have the status of the legal subject
• The data entered in the Business Register includes founding and winding up of this entity.
Registration form
Registration application form is submitted to the Business Register Agency.
Additional to the above mentioned form one submits as follows:
• Excerpt from the original Business Register of the foreign legal entity founder certified by the
relevant foreign body from the country of issue or Articles of Association;
• Articles of Association of the representative branch office
• Decision on appointing the representative unless already nominated by the founding act of the
representative office
• Proof of accounts used for the founder’s business transactions
• Affidavit of the founder testifying to the undertaken responsibility arising from the business
operations by the representative branch office;
• Proof of payment of administrative costs credited to the Business Register Agency in the
amount of 3 000 RSD for the opening of the representative branch office in the Republic of
Serbia by the foreign entity.
5. COMMENCEMENT OF BUSINESS ACTIVITIES
For the commencement of a company’s business activities in Serbia the requirements comprise of the
following steps:
Registration with the Business Register Agency; filing with the Republican Bureau of Statistics,
obtaining the Tax Payer ID number from the Fiscal Administration of the Customs Administration (in
case the company intends on engaging in foreign trade); filing with the National Employment Agency
of the Republican Bureau for Social Security, retirement contributions and disability insurance;
opening an account with the proper commercial bank.
Business premises
A company must have an official address in Serbia in order to be eligible for registration. Legal power
of attorney may on an interim basis use its own business address as an address of the company in the
process of being founded.
Authentication of documents
All legal documents must be authenticated with the Court. Fee amount for document authentication
depends upon the value of the start up capital.
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16. Certified translations
In the event some of the documents are written in a foreign language e.g. other than Serbian, they must
be translated into Serbian and certified by the court appointed interpreter/translator.
Opening a bank account
Initial capital (i.e. 50% of the initial capital of the limited liability company e.g. € 250 in RSD
equivalent on the day of deposit) must be credited to the bank account, while payment receipt serves as
a proof of payment when registering a company.
Registration application form
Registration application form is submitted to the Business Register Agency. Along with the filled out
application form it is required to enclose the prescribed documentation specifically cited for each type
of company.
Company seal
Upon receipt of the Decision on Registration it is required that the appropriate company seal be made.
Business ID number
The request for the allocation of the activity code in accordance with the Classification Nomenclature
is to be submitted to the Republican Bureau of Statistics which provides the business entity with the
registration number and activity code. It is necessary to enclose the Decision on Registration along
with this request.
Tax payer ID number
Consequent to the registration and allocation of the business ID number, filing with the fiscal body in
charge must be effectuated in order to obtain the tax payer ID number (PIB). Filing location is
determined according to the business seat of the company. Along with this application an authenticated
copy, Decision on Registration and Business ID number must be enclosed.
Social security, retirement contributions and disability insurance
Employers, either legal or physical persons are under obligation to declare the employee within the 5
days from the day of the signing of the Employment Contract to the:
• National Employment Bureau (application forms E1 & E3)
• Retirement contributions and disability insurance fund (application forms M1 & M2)
Decision on fulfillment of minimal technical requirements
A company may begin its business activities after it has submitted satisfactory evidence to the Register
that it complies with technical, health, environmental and other requirements defined for operating in
the specific line of business (business premises, equipment, etc.).
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17. SHORT GUIDE TO STARTING A COMPANY
Where to search for assistance?
• Chambers of Commerce
• Ministry of Economy
• Business Register Agency
• Agency for the development of SME-s
• Agency for foreign investments
• Professional and Branch Associations
• Fund for development
• Banks
• Local self government bodies
• National Employment Agency
• Inspections services
USEFUL ADDRESSES
State establishments and commercial institutions
• National Bank of Serbia
Kralja Petra 12
11000 Belgrade
Phone: 302-71-00, 328-38-41
Fax: 328-38-41, 3027-394
Website: www.nbs.rs
• Republican Customs Administration
Blvd. AVNOJ 155
11070 N. Belgrade
Phone: 2690-822
Fax: 2696-236, 2697-455
Website: www.fcs.rs
• Ministry of Finances
Nemanjina 22-26
11000 Belgrade
Phone: 3616-361; 3616-533; 3613-560
Fax: 361-89-14
Website: www.mfin.sr.gov.rs
informacije@mfin.sr.gov.rs
• Ministry of Economy and Regional Development
Bulevar Kralja Aleksandra 15
11000 Belgrade
Phone: 3617 599, 3617 699
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18. Fax: 3617 640, 3610 045
Web address: www.merr.sr.gov.rs
• Ministry of Infrastructure
Nemanjina 22-26
11000 Belgrade
Phone: 3616-426, 3616 431
Fax: 3617-486
Web address: www.mki.sr.gov.rs
cabinet@mki.sr.gov.rs
• Ministry of Labor and Social Affairs
Nemanjina 22-26
11000 Belgrade
Phone/Fax: 3618-780
Web address: www.minrzs.sr.gov.rs
• Republican Bureau of Statistics
Milana Rakica 5
11000 Belgrade
Phone: 011-2402-505
Fax: 2401-284
Web address: www.statserb.sr.gov.rs
• Development Fund of the Republic of Serbia
Knez Mihailova 14
11000 Belgrade
Phone: 2621-822, 2621-887, 631-239
Fax: 627-214
Web address: www.fondzarazvoj.sr.gov.rs
• Business Register Agency
Trg Nikole Pasica 5/IV
11000 Belgrade
Phone: 333-1444, 333-1445
Fax: 3230 943
Web address: www.apr.sr.gov.rs
• SMEs and Entrepreneurship Development Agency
Toplicin Venac 19
11000 Belgrade
Phone: 33 46 107
Fax: 33 46 601
Web address: www.sme.sr.gov.rs
• National Employment Agency
Kralja Milutina 8
11000 Belgrade
Phone: 33 07 900
Fax: 33 07 980
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19. Web address: www.rztr.co.rs
• Republican Work Safety Inspection
Omladinskih brigade 1
11000 Belgrade
Phone: 3131-407
Fax: 627 214
• Serbian Chamber of Commerce
Resavska 13-15
11000 Belgrade
Phone: 3240-611, 3300-900
Fax: 3230 949
Web address: www.pks.co.rs
SERBIAN CHAMBER OF COMMERCE REPRESENTATIVE BRANCH OFFICES
ABROAD
Russian Federation
Moscow
KT Bureau at the Embassy of Serbia
Mosfiljamovska 9 D 42
119281 Moscow
Phone: +7095 1478505, 1478506
E-mail: ktb@rosmail.ru
Krasnodar
Belkras, Krasnodar
Stavropoljska 18
Phone: +7(8612) 678-54-79, 67-54-81, 67-54-82
E-mail: belkras@kuban.net
Jekaterinburg
OOO „Uralsodrzestvo“
620037, Jekaterinburg
M-Sibirjaka, 85/419
Phone: + (343) 350-63-24
E-mail: uralfrend@ekt.ru
Orenburg
460051, Russia, Orenburg
Gagarina 48/1
Phone: + (3532) 33-33-02, 70-21-55
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20. E-mail: harfa@inbox.ru
Sankt Petersburg
191014 Sankt Petersburg
Baskov pereulok 12
Phone: + (812) 119-80-79, 119-81-04
E-mail: info@ktb_spb.ru
Brussels, Belgium
Bte 46B/1000 Brussels, Belgium
WTCI/Blvd du Roi Albert II 30/19
Phone : +322 201 59 60
Fax : 322 201 19 29
E-mail : ycci.be@busmail.net
Frankfurt, Germany
Boersenplatz 4
D-60313 Frankfurt am Main
Phone: +49 982 47 521, 982 47 50
E-mail: m.vucic@web.de
Munich
Bohmenwaldplatz 2
D-81679 Muenchen
Phone : +49 982 47 521, 982 47 50
E-mail: gk-minhen@-online.de
Sofia, Bulgaria
Bul. Janko Sakazov 19/6
1504 Sofija
Phone: 993592-94-61-014
Fax: 993592 94 61 014
E-mail: ljmitic@tigar.com
Milan, Italy
Promos Via Camperio 1/II
20124 Milan
Phone: +39 02 85 155 366
Fax: +39 02 85 155 366
E-mail: deskjugoslavia@mi.camcom.it
Vienna, Austria
Wirtschaftskammer Serbien
Ausenstell in Osterrich, Johannagase 1/3
Phone: +43 676 7725053, + 43 590 900 14 407
E-mail: office@abkom.org
Timisoara, Rumania
Cicio Pop 2
19000 Timisoara, Rumania
Phone: +40746 490 414
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21. E-mail: ppksro@yahoo.com
IMPORTANT SERBIAN WEB PAGES
For additional information concerning the privatization process in Serbia, please, visit the following
web sites:
Privatization Agency: www.priv.yu www.pa-serbia.co.rs
Ministry of Economy and regional development www.mpriv.sr.gov.rs
Share Fund: www.share-fund.co.rs
Belgrade stock Exchange: www.belex.co.rs
Other useful information concerning “Business in Serbia” can be found on the following web sites:
Agency for investment promotion and foreign trade: www.siepa.sr.gov.rs
Business Register Agency: www.apr.sr.gov.rs
Ministry of Finance: www.mfin.sr.gov.rs
Customs Administration: www.fcs.rs
National Bank of Serbia: www.nbs.co.rs
Public Procurement Office: www.ujn.sr.gov.rs
Ministry for Infrastructure:
Agency for deposit, insurance, rehabilitation, bankruptcy of banks: www.bra.gov.rs
Business Directories:
www.yuyellowpages.net
www.webstrane.com
www.kompass.com
www.kompass.co.rs
Chemical: www.hemija.co.rs
Food and drinks: www.hranaipice.com
Construction industry sector: www.gradjevinarstvo.co.rs
Serbian language pages:
www.economy.co.rs/biznis_imenik
www.poslovniadresar.co.rs
www.industrijalci.co.rs
www.industrijalci.com
www.aladin.co.rs
Customs tariff: www.fcs.rs
Trade fairs
Belgrade Fair: www.sajam.co.rs
www.sajam.co.rs/kalendar.htm
Novi Sad Fair: www.nsfair.co.rs
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22. Variety of useful information available at: www.krstarica.com, www.vibilia.co.rs
BOARD FOR INTERNATIONAL ECONOMIC RELATIONS
Ph.: + 381 11 32 48 109
Fax: + 381 11 32 48 060
E-mail: eoi@pks.co.rs
www.pks.co.rs
ECONOMIC SYSTEM BOARD
Ph.: + 381 11 32 38 572
Fax: + 381 11 32 30 949
E-mail: mseovic@pks.co.rs
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